Leafs Co. had the following inventory transactions for the month of June: June 1 On hand, 50 units at $18.00 each =$ 900.00 June 4 Purchased 115 units at $18.20 each =$2,093.00 June 5 Sold 100 units June 10 Purchased 75 units at $18.25 each =$1,368.75 June 24 Sold 40 units Total cost of goods available for sale =$4,361.75 The company uses a perpetual inventory system. Refer to Leafs Co. If the company uses the FIFO method of inventory costing, what is the amount of ending inventory reported on the statement of financial position (balance sheet)? O $1,825.00 O $1,800.00 O $1,823.25 O $1,810.00

Leafs Co. had the following inventory transactions for the month of June: June 1 On hand, 50 units at $18.00 each =$ 900.00 June 4 Purchased 115 units at $18.20 each =$2,093.00 June 5 Sold 100 units June 10 Purchased 75 units at $18.25 each =$1,368.75 June 24 Sold 40 units Total cost of goods available for sale =$4,361.75 The company uses a perpetual inventory system. Refer to Leafs Co. If the company uses the FIFO method of inventory costing, what is the amount of ending inventory reported on the statement of financial position (balance sheet)? O $1,825.00 O $1,800.00 O $1,823.25 O $1,810.00

Name: Leafs Co. had the following inventory transactions for the month of J
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Description: Leafs Co. had the following inventory transactions for the month of June:June 1 On hand, 50 units at $18.00 each=$ 900.00June 4 Purchased 115 units at $18.20 each=$2,093.00June 5 Sold 100 unitsJune 10 Purchased 75 units at $18.25 each=$1,368.75June

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.10AMCP

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